Kenya

Kenya’s central bank may fine lenders up to KES 20 mln for non-compliance with guidelines. New laws allow fines up to three times the benefit banks gain from non-compliance. The economy is projected to grow by 5% in Q1 2025, with a projected current-account deficit of 3.8% of GDP. Kenya expects a balance-of-payments surplus of USD 591 mln this year, with remittances rising 7% to USD 5.27 bln.